American Financial Group vs Assurant
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KIRA’s take AI analyst
I put American Financial Group and Assurant side by side, using each one’s latest annual report. Here is what stands out:
- Assurant is the larger business, with $12.8B of revenue in fiscal 2025 against $8.2B for American Financial Group, about 1.6 times as much.
- Assurant grew revenue faster (7.9%, against −1.8%).
- Investors pay more for each dollar of Assurant’s earnings: a P/E of 13.7x against 13.2x for American Financial Group.
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
American Financial Group
AFG
4/7
5-year growthNet marginReturn on capitalReturn on equity
Assurant
AIZ
3/7
Revenue growthNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | AFG FY25 | AIZ FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.5B | $14.3B |
| Revenue | $8.2B | $12.8B |
| Free cash flow | — | $1.6B |
| Net income | $842M | $873M |
| Growth | ||
| Revenue growth | −1.8% | 7.9% |
| 5-year growth | 7.2% | 6.0% |
| Share count change | −0.5% | −1.9% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 13.1% | — |
| Net margin | 10.3% | 6.8% |
| FCF margin | — | 12.5% |
| Return on capital | 17.8% | 17.5% |
| Return on equity | 18.1% | 15.9% |
| Balance sheet | ||
| Net debt | $93.0M | −$6.7M |
| Net debt / EBITDA | 0.1x | 0.0x |
| Dividends and buybacks | $705M | $472M |
| Valuation & quality | ||
| P/E | 13.2x | 13.7x |
| Piotroski F-score | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.